McDonald’s Corporation $MCD is Freedom Day Solutions LLC’s 2nd Largest Position

Freedom Day Solutions LLC boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 2,839.0% in the second quarter, Holdings Channel reports. The institutional investor owned 204,821 shares of the fast-food giant’s stock after acquiring an additional 197,852 shares during the quarter. McDonald’s accounts for approximately 15.4% of Freedom Day Solutions LLC’s investment portfolio, making the stock its 2nd biggest holding. Freedom Day Solutions LLC’s holdings in McDonald’s were worth $59,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MCD. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the 1st quarter valued at $26,000. GFG Capital LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $29,000. Abound Financial LLC purchased a new position in shares of McDonald’s during the 1st quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 1st quarter valued at $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,402 shares of company stock worth $1,973,407 in the last ninety days. 0.25% of the stock is owned by company insiders.

McDonald’s Trading Down 0.2%

Shares of NYSE:MCD opened at $293.76 on Friday. The company has a market cap of $209.63 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.50. The company has a 50-day moving average price of $306.43 and a 200-day moving average price of $305.86. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm earned $2.97 earnings per share. McDonald’s’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Melius initiated coverage on shares of McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price target for the company. Evercore ISI boosted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. Finally, Bank of America dropped their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $324.73.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.